UK 30-year gilt yield hits 6% for first time since 1998

Britain's 30-year gilt yield hit 6% on 1 Oct 2026, first time since 1998. Five- and 10-year yields also rose, raising borrowing costs across maturities. The sell-off was driven by inflation fears as the Middle East conflict continued to restrict oil supplies. I see limited fiscal room for Chancellor John Healey before the late-October budget.